Bob Carlson: The Essential Guide to Retiring in 2023
“Fun With Annuities” The Annuity Man Podcast
Release Date: 01/17/2023
Push Comes to Shove: Shootin' It Straight With Stan
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: What are MYGAs? How MYGAs work Locked in MYGAs Key Takeaways: MYGAs or fixed-rate annuities are the annuity industry’s version of a CD. The advantage is that you have full control over it, and you can transfer it back to where it came from or roll it to another one. There is no trigger function on MYGAs. The way it works is that you give the life insurance company that issues annuities a lump sum of money and they guarantee an interest rate for a specific period of time. Some MYGAs allow you...
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Surfing Beside a Cruise Ship: Shootin' It Straight With Stan
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Surfing beside a cruise ship Who wins in the markets? What should be your focus in your “chapter two?” Key Takeaways: Investing in the markets is like surfing beside a cruise ship. There are times that you will catch a wave and you'll just surf and it'll be fantastic, but there are also times you’ll get sucked under the boat. Big-money institutions win in the markets, they trade fast and trade constantly. The market is stacked against individual investors. There’s nothing wrong with...
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Jay Zawatsky: How Debt & Energy Connect
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man and Jay Zawatsky discuss: The origin of the United State’s debt pile Why we need to increase the amount and affordability of energy Hydrogen is the key to energy dominance The problems that hydrogen solves Key Takeaways: Lifespans have increased for workers that pay into the social security system. Therefore, according to the trustees of the Social Security system, it’s projected that they will be unable to pay the full benefits by 2034. This doesn’t mean that people won’t get any amount, just not the...
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Chapter 2 Is About You: Shootin' It Straight With Stan
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Pivoting doesn’t mean slowing down Why pivoting to retirement is hard Cherish your chapter two Key Takeaways: Retirement doesn’t mean that you’re slowing down, it just means that you’re going to pivot to chapter two of your life where you are hopefully spending time doing the things that you love to do. It’s hard to pivot and actually take care of yourself. You’ve gotten used to pushing yourself past your limits, putting your family first, and letting them have the good stuff while you try...
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4 Words: Shootin' It Straight With Stan
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: The four words you must focus on The difference between a CD and a MYGA Seize the day with these interest rates What should you do when the rates go down? Key Takeaways: In the current interest-rate environment that we’re in, between CDs, treasuries, and multi-year guaranteed annuities, allow many of you out there to live off of contractually guaranteed interests. MYGAs are the annuity industry’s version of a CD. The difference between a Maiga and a CD is that in a non-IRA account, the Maiga...
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Mark Iwry: Retirement Visionary & QLAC Champion
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man and Mark Iwry discuss the following: What is a QLAC? One of the best features of a QLAC Structuring a QLAC with cash refund Why QLACs aren’t popular Key Takeaways: A QLAC or a Quality Longevity Annuiy Contract is a deferred annuity that’s helpful for people trying to save for retirement and want security in retirement in the form of a guaranteed lifetime income. You don’t have to worry about Required Minimum Distribution rules when you buy deeply deferred annuities. One of the best things about the...
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The Scarlet Letter A: Shootin' It Straight With Stan
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Social security is an annuity Why you can’t hate all annuities Structuring annuities Having contractual guarantees in place Key Takeaways: If annuities are all bad, then nobody should claim their pensions. Social security is an annuity, one that you already own. You can’t “hate all annuities”; it’s like saying you hate all restaurants. There are many different ways to structure an annuity, each serving a different purpose. Anyone who says they hate all annuities doesn’t know...
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Market Needles or Annuity Haystacks: Shootin' It Straight With Stan
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Threading the needle with volatility Freedom from volatility Annuities are the haystack Time to secure guarantees Key Takeaways: Threading the needle to get market returns makes you dependent upon so much unknown. You’re dependent on world markets, geopolitical events, and meltdowns that are impossible to predict. A lot of people can retire from their jobs and the market, and they should; those who can’t yet should make it a goal to do that and be free from being dependent on volatility. ...
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Pam Krueger: Your Wealthramp to Fiduciary Advice
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man and Pam Krueger discuss: Should you trust people not held to a fiduciary standard? The advantage of buying a registered advisor The mark of a great financial advisor Two questions you must ask your advisor Key Takeaways: There are a lot of self-described advisors working at brokerage firms or insurance companies. They are not necessarily bad people or bad advisors but work for a business model that has consciously chosen not to be held to the legal fiduciary standard. Hiring an advisor who is held...
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Fly First Class or Your Kids Will: Shootin' It Straight With Stan
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: There are no U-Hauls behind hearses Why aren't you spending your money? Fly first class, or your kids will The millionaire next door Key Takeaways: The phrase “there are no U-Hauls behind hearses” means that you don’t get to keep anything you’ve amassed when you’re dead. It will hopefully be a wake-up call for many to live life for the day and spend the money that they’ve earned on themselves. Ask yourself what really is the reason why you’re not spending your money on what you want. Bring...
info_outlineIn this episode, The Annuity Man and Bob Carlson discuss:
- Changes in 401k and IRA provisions
- Why you should spend time on income taxes
- Generating guaranteed lifetime income
- Be prepared to adapt your plan
Key Takeaways:
- The Secure Act 2.0 gives provisions that are designed to make employer retirement plans more available and to get more employees participating in the plans. The required minimum distribution’s beginning age has also been bumped to 75, and catch-up contributions are being increased for IRAs and 401ks.
- People don’t spend enough time on their income taxes. People shouldn’t forget that not everyone pays lower taxes when they retire, some will be in the same bracket, and Congress avoids tax increases but has added provisions that, in effect, work like stealth taxes.
- Accumulate as big of a balance as possible, then find a way to turn it into cash flow for your retirement phase. Generate guaranteed lifetime income through social security or employer pension, then start looking at putting money into SPIAs or MYGAs to generate that income gap.
- Be prepared for change. Know that your retirement plan is not set in stone; it’s something that you have to review regularly. See where your assumptions are wrong, where you've changed, where the tax law and other things outside your purview have changed, and adapt your plan to that.
"Anticipate change, be prepared for it. Know that your retirement plan is not set in stone. It's not a roadmap; it’s something you have to review regularly. " — Bob Carlson.
Grab a copy of Bob Carlson’s, The Essential Guide To Retiring In the 2020s by clicking on this link: https://www.amazon.com/Retirement-Watch-Essential-Guide-Retiring/dp/1684513332
Connect with Bob Carlson:
Website: https://www.retirementwatch.com/
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Twitter: https://twitter.com/RetirementWatch
Most Recent Book: https://www.amazon.com/Wheres-My-Money-Secrets-Security-ebook/dp/B0853F3R7R
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Email: [email protected]
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